I like that Dubai leads this list after my posting yesterday... A nice stock market crash in Dubai will likely precede the real estate crash there by a few months. Thanks Budvarr for the link..
It's all fake folks. The whole thing. And boy, doesn't Phoenix seem like the US version of Dubai? Crazy speculator-led development, built by a third world near-slave-labor work force, in a desert that is not hospitable to living in the summer?
And someone please find me a safe harbor... (I know, I know, Gold.)
July 10, 2006
Losing it in Dubai (and Saudi Arabia, and Egypt, and Russia, ..)
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http://www.thedubaiwaterfront.com/
Money market funds and CDs are your safe haven. Yields going up; chance of losing your capital close to zero.
Yes, yields are heading up with money market funds and CDs, but unfortunately with the coming devalution of the dollar, a lot of capital will be lost, even if your bank statements don't show it. (Just my $0.02.)
CNN Money predicts the next real estate boom in 2025 !
But what to do with all existing suburbia?
http://tinyurl.com/qu22t
The next real estate boom
Dense settlements, not sprawling ranch houses, are the future of housing - and could make for a smart real-estate investment.
Ecobuilder: I wrote an anti-new village piece in response to CNNMoney's article. I'm not against the idea of these types of communities, but to have a 20%-25% premium over ranch houses already and think it is a better investment idea than any other is absurd.
Dubai has an advantage.
As Peak Oil really starts to hit in the next few years, the Mideast will be the only place where there is still significant quantities of oil to pump.
The mideast will go into oil-decline, but slower than the other producing areas, already Mexico, UK, Norway and Russia are starting major declines and the US has declined since 1971.
The result is very high oil prices and profits. Hence mideastern potentates will have ginormous sums of money---but their own domestic economies and political systems are too unstable and risky.
Hence, they will keep their money "offshore", which really means Dubai. Dubai is making its financial and regulatory system to be the new Switzerland of the mideast: think
1) bank secrecy: no cooperation with USA or EU
2) no questions asked about the source of the money (i.e ripping off their home oil profits)
3) no questions asked about where it goes: bribes, concubines, jihad
4) buyable passports and citizenship
5) no extradition to West
All of that: big structural advantage over Phoenix, that's for sure!
Dubai is running out of oil but they want to be the bankers to the oil world.
It is only one part of the story. How much did these stock indeces go up in the last three years - 300%?
Dubai is the sin-city of the Middle East. They're probably doing great since the price of oil is high.
You right about the slave labor. Same thing in Kuwait.
What is this blog made of? Single young people without children???
Homeophobes??
What you folks seem to forget is that the desire to mate and breed is genetically imprinted, PERIOD.
99% of people that are financially stable and have a biological urge to breed are sure as hell NOT going to want to raise offspring in an apartment or condo.
DUH
A safe harbor?
Japan.
As China revaluates the yuan up---after 2008 Olympics only of course---the Bank of Japan will have less pressure to keep the yen low.
As Peak Oil hits, you will need more and more hard currency to buy oil.
Yuan and yen are going up as China + Japan make things that oil owners want to buy.
Except for weapons (and that's a bad deal anyway) the US makes nothing except aircraft, and in 10 years China will be in the major aircraft business, and in 25 years they will have extinguished Boeing's commercial business (stealing the 787, in effect, as Boeing outsources more and more to places where industrial espionage is easy) and squashed Airbus into an uncompetitive subsidized useless jobs program.
Breeders, fat-assed, minivan drivin' breeders. Your days are numbered.
A bathouse on every corner is what this country really needs!
99% of people that are financially stable and have a biological urge to breed are sure as hell NOT going to want to raise offspring in an apartment or condo.
Actually, my wife and I are very financially stable because we do not own a house. I would have to spend $700 more a month to purchase house (a.k.a depreciating asset) of equal size and ammenties of our 4-plex. With a park within two blocks, my two kids are just fine living in an apartment. I will wait to buy a house after the crash. Homes are not supposed to double in value in 4 years...
Iceland has a stock market?
Just watched a programme on TV "Dubai, the next big thing".
No formal land registry, building on "man made islands", it's this and it's that, buy off plan, make a fortune, great for young people etc.
I personally wouldn't invest a buck fifty in the place!!!
Can anybody point me to the original source page (or something close to it) of this chart? I've tried, but obviously my internet search skill sucks. I want to double-check before fowarding the info to my family.
Also, is the chart talking about the stock downturn of 2006? What is the base year in the chart? Thank you.
"It's all fake folks. The whole thing."
Truer words were never written. And it's all designed by CorpGovs of the world to separate you from your money.
We need a new country.
Not gold - you missed the boat. Look back to 1987 - a new Fed chairman struggles to fight resurgent inflation. Return on Gold in 1987: 22.21% 1988: -15.26 1989: -2.84% 1990: -1.47% 1991: -10.07%
The best performing sectors: 1988: small value stocks 1989: large growth 1990: bonds 1991: small growth
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Tips for Being a Successful Landlord
In today’s apartment rental market there are several things that are “must do’s” for becoming a successful landlord. The reason you’re playing the real estate rental game is to have the check in your mailbox on the first of the month, right? Here are a few tips that can help you to achieve this with as little aggravation and frustration possible.
First and foremost is finding the right tenant to rent your apartment, house or other rental. This is the most important ingredient in the recipe. Checking the prospective tenant’s credit history to make sure they are paying their bills is one of the best ways you can screen. A tenant that pays their bills on time most likely will send you their rent on time. Establish a clear system on collecting rent, handling complaints from the tenant and how you will contact them if you need to gain access to the apartment.
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